FG Nexus reveals 47,331 ETH holdings, targets 10% stake in Ethereum.
Summary
- FG Nexus announced spending $200M to buy 47,331 ETH
- The firm intends to hold a 10% stake in the token
- Ethereum is quickly gaining traction among corporate investors
Ethereum (ETH) is quickly becoming the next big trend among institutional investors. On August 11, FG Nexus, formerly Fundamental Global, revealed that it currently holds 47,331 ETH in reserve, with major expansion plans underway. The capital came from the $200 million private placement the company announced earlier.
“Ethereum is rapidly becoming the foundation of global digital finance. We plan to continue to promote the global adoption of ETH as a treasury reserve asset,” said Maja Vujinovic, CEO of Digital Assets, FG Nexus. “We plan to become a significant player in the Ethereum network with a goal of a 10% stake in ETH.”
To accelerate its holdings, FG Nexus intends to tap into the token’s yield through staking. The firm’s ETH reserves will earn staking and restaking income, while also opening the door to other DeFi markets within the Ethereum ecosystem.
FG Nexus to tap into Ethereum’s DeFi ecosystem
In addition to ETH staking yield, the company will also leverage Ethereum’s DeFi ecosystem. According to the company, this includes tokenized RWAs and stablecoin yield.
“FG Nexus aims to differentiate through not only our unwavering focus on accumulating ETH, but also by driving ETH yield and leveraging our team’s collective experience and know how in Digital Assets and the Financial Services Industry,” stated Kyle Cerminara, CEO and Chairman of FG Nexus.
FG Nexus launched its accumulation strategy on July 30, exactly 10 years after the minting of the Ethereum genesis block. Its first purchase was a symbolic 6,400 ETH. The company has partnered with Anchorage Digital for crypto custody and Galaxy for asset management.